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Views: 116 DOM: 113 Updated: 10.24.24 Posted: 07.31.24 Status: Active

Summary

Price $5,824,000
Built/Renov 2024
Tenant Mighty Wash Car Wash
Cap Rate 6.85%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,500
Lease Start 10-01-2024
#Units 34
Price/SF $1,294.22
Expiration 10-31-2039
Tenant Type Automotive
NOI $398,943
R. Term 14.11
Ownership Fee Simple
Rent/SF $88.65
Increases 10.0%/5/yrs
Pop 5Mi 132,173
Lot/AC 1.36
Options 3/5yrs/10%
AHHI 5Mi $67,835

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Mighty Wash Car Wash is strategically located on S. Valley Dr., a major retail and commuter thoroughfare, with access to 35,900 vehicles passing by daily. The property benefits from convenient on/off-ramp access to I-35, which sees 145,700 VPD. It features excellent visibility and access through multiple points of ingress/egress, significant street frontage, and a large monument sign....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Mighty Wash Car Wash
  • Guarantor:Corporate
  • Company:Mighty Wash Operations
  • # Units:34
  • Stock:Private

About Tenant

Mighty Wash is a conveyor car wash company that provides high-quality car washing services while focusing on continuous growth and adhering to its mission statement: The company offers multiple...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 11,020 82,565 137,016
2024 Total Population : 10,530 80,125 133,950
2024 Employed Civilian Pop : 5,252 36,338 60,777
2024 Total Businesses : 402 4,226 6,422
2024 Average Household Income : $ 67,007 $ 58,240 $ 70,870
2024 Total Consumer Spending : $ 212 M $ 1567 M $ 3229 M
2024 Median Age : 33 28 32
2024 Total Households : 3,512 29,834 50,871
2024 Pop Age 25+: Bachelor's Degree : 518 6,155 12,972
2024 Average Home Value : $ 149,792 $ 197,844 $ 250,615
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Dutton Ave S 31st St 2010 6,210 0.11 mi
S Valley Mills Dr Memorial Dr 2010 33,290 0.11 mi
Dutton Ave S 31st St 2010 6,730 0.13 mi
Memorial Dr Connally St 2010 5,770 0.22 mi
Travis St Speight Ave 2010 5,710 0.26 mi
S Valley Mills Dr Turtle Cove Dr 2010 35,880 0.29 mi
Speight Ave S 29th St 2010 4,450 0.31 mi
Richter Ave Shelby Ave 2010 1,400 0.32 mi
Clay Ave S Valley Mills Dr 2010 3,000 0.44 mi
S Valley Mills Dr Bagby Ave 2010 35,050 0.44 mi

Listing Broker

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